My wife and I are both disabled. We both lost our jobs because of it. For over three years we have been asking our bank for help and none so far.

Asked by John, 38671 Tue Jun 21, 2011

We will never be able to go back to work. I was never able to walk again after my HIT AND RUN ACCIDENT Why has our loan taken so long to get modified? The bank just keeps asking us to send all the docs over and over and over. Our loan is at almost 7%. they promised us a loan for 2% over two years ago and still nothing. Our payments are for over $4.990 right now and we do not even make that much.

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Terry Tomlin…, , Southaven, MS
Tue Jun 21, 2011
There are a few ways that you can handle this. Depending on the lender, you should be able to pursue a loan modification under your circumstances. I can help you further if you contact me and would be glad to answer your questions. A short sale is another option but it does not sound like you are wanting to move.
Terry Tomlinson
Keller Williams Realty
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, ,
Tue Jun 21, 2011
Hi John,

I really wish I had a better answer for you! There are too many horror stories out there like yours about loan modifications taking FOREVER, the lender requesting additional documentation over and over again, etc.. There have also been numerous TV news specials on this specific topic. The problem is the lenders do not have enough personnel to manage the loan modifications - there may be other factors, but that is a one.

The only suggestion I can give you is to try contacting another loan mod specialist within the bank or even the manager/supervisor. The government knows about the loan mod issues and they are working on geting these problems addressed, but who knows how long that will take!

Just don't give up and try exhausting every angle you can. Be persistant and patient!

Good luck to you!
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